Pepper Money has increased the maximum age it will accept earned income to and the maximum age at end of term on its second charge mortgages. Borrowers will now be able to schedule their repayments over terms which exceed the state retirement age where they can evidence their income is sustainable. As a result, the lender now accepts across all its second charge products, with earned income up to 75 years old and a maximum age at the end of term now at 80 years old.

Marsden Building Society has re-entered the expat furnished holiday let (FHL) market. As a result, Marsden will now consider applications from UK and foreign nationals purchasing property in England or Wales. Foreign nationals must have permanent right to reside or pre-settled or settled status to be eligible for an FHL mortgage with the society. Applicants are not required to own a main UK residence, which means that the society will now be considering first-time buyers and first-time landlords. The society also allows for 90 days of personal use of the FHL property per year, along with no personal affordability assessment, interest only or repayment mortgages up to 75% LTV.

Saffron for Intermediaries has made changes to its entire product range in order to embrace a "diverse range of borrowers". The changes to the criteria include assessing income and affordability where applicants have pension and investment pots. This means that the lender can now lend more than they previously could as they are no longer assessed using a life expectancy calculation. The lender has also increased its LTV limit for applicants on visas from 75% and 90%. The lender also now accepts spousal visas and pre-settled status, no longer requiring a minimum remaining term on the current visa. Furthermore, the lender has improved its top-slicing criteria, reducing its ICR requirement down to 110% from 125%.

---